tradedragon is bearish on Chesapeake Energy Corp but I won’t make any trade on this.
CHK is testing its support again. It is rare that CHK hangs on to a support. Look at the previous few rebounds, they are clean, meaning it touches the line and goes up with nice candlestick patterns. This time, CHK failed to hold up a nice pattern. It seems like this trend line might be broken, $20 may be tested again.
Take Profits if you have dived into CHK.
Many investors entered CHK thinking that ICAHN will make CHK climb. In the long term it might.
This is an opportunity for ppl to buy CHK at a lower price and follow the big boys like ICAHN and Temasek holdings.
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